$15 in 3 years?

From the Star Ledger:

What Murphy just said about N.J. minimum wage hike, millionaire’s tax

In their first public appearance together, Gov.-elect Phil Murphy and his fellow Democrats who lead the New Jersey Legislature promised Monday to gradually hike the state’s minimum wage to $15 over the next few years.

At the same time, Murphy told reporters he is still committed to raising taxes on wealthy residents to pay for his initiatives — even though state Senate President Stephen Sweeney recently said the federal tax overhaul currently being considered in Congress might complicate the issue.

Appearing at his first Statehouse news conference since his Nov. 7 election, Murphy said he’ll make good on his campaign vow to increase the state’s minimum wage from just under $9 to $15.

But Murphy provided few other details as he stood alongside Sweeney, D-Gloucester; incoming state Assembly Speaker Craig Coughlin, D-Middlesex; and U.S. Rep. Donald Norcross, D-1st Dist.

“We have to do it responsibly, but we must get there,” said Murphy, who will replace Republican Gov. Chris Christie on Jan. 16.

“This is as high on the priority list as anything we’ve got,” Murphy added.

Once Murphy is sworn in, though, Democrats will lead both branches of government, making it more likely such a measure will become law.

Democrats have not yet drafted a new bill nor settled on how long the phase-in period will be. Murphy said he favors three to four years.

“At least we know we’re moving forward instead of meeting the veto pen,” Sweeney said.

Said Murphy: “Give us a chance to get our sleeves rolled up and get the specifics ironed out.”

This entry was posted in Demographics, Economics, New Jersey Real Estate. Bookmark the permalink.

88 Responses to $15 in 3 years?

  1. Mike says:

    Good Morning New Jersey

  2. Daddy Deported says:

    ‘Morning Mike.

  3. D-FENS says:

    I wonder how many union jobs and businesses owned by political insiders will be exempted.

  4. Mike says:

    400 Burger Per Hour Robot Will Put Teens Out Of Work
    https://www.youtube.com/watch?v=glmk74zuF6w

  5. JJ fanboy says:

    Cool. To keep pace with the minimum wage increase, everyone else in nj should demand a 60% raise. Gots to keep the income spread.

  6. Daddy Deported says:

    Charlie Rose done, Glenn Thrush done.

    I wonder if Dems will ever be able to get the stink off?

  7. Daddy Deported says:

    400 Burger Per Hour Robot Will Put Teens Career Burger Wrappers Out Of Work

    https://www.youtube.com/watch?v=glmk74zuF6w

  8. JJ fanboy says:

    Libturd,

    I am starting to think the percentage of people in medicine who are sociopaths is even higher than that of Wall Street, law, and politics

  9. leftwing says:

    “Charlie Rose? The guy who I used to put on to fall asleep?”

    Lol, yeah, that one.

    He actually was/is a very good reporter. Storied 40 year career. Probably has more interviews with the international elite and newsworthy than anyone else. Couple of Emmys, etc. Funny, I noticed yesterday during the rolling Manson news that halfway through the day they edited Rose out of the clips and just went with the Manson answers to his in-prison interview.

    This hits the elite, intellectual left hard. Their equivalent of Bill O’Reilly to the populist right. Someone in the WH should be awake…if they were waiting for a good sucker punch moment here it is.

  10. Libturd, AKA Dr. Howie Feltersnatch says:

    Womens Lives Matter

    As a protest during the national anthem at the WBA games, the players all plan to remove their tampons and swing them Gwar-style at the crowd.

  11. grim says:

    That’s the funny thing about being in a position of power, it’s easy for the person in power to mistake that power for consent. Like Louis CK said…

    These stories are true. At the time, I said to myself that what I did was okay because I never showed a woman my dick without asking first, which is also true. But what I learned later in life, too late, is that when you have power over another person, asking them to look at your dick isn’t a question. It’s a predicament for them. The power I had over these women is that they admired me. And I wielded that power irresponsibly.

  12. Daddy Deported says:

    Kathy Griffin thinks the world owes her. It’s amazing how unaware these people are. 12,000 dislikes of her video so far vs. 2,000 likes:

    https://www.youtube.com/watch?v=ovu7QXvpIjU&t=103s

  13. grim says:

    What a scumbag.

  14. The Great Pumpkin says:

    “Levine helps wealthy individuals with tax planning, and he said the House proposal is “very welcome for my clients.”

    “As a matter of tax policy it’s completely indefensible,” he said. “It permits income that is obviously income, in a constitutional sense, to go entirely untaxed.””

    https://www.bloomberg.com/news/articles/2017-11-21/tax-loopholes-for-wall-street-s-wealthiest-loom-in-house-bill

  15. grim says:

    Why is NJ so expensive… Surprise!

    Parents lose lawsuit over making kids walk to bus stop

    An administrative law judge has ruled against a New Jersey couple who said it was unsafe to make their children walk less than a mile to a bus stop.

    The parents, identified only by initials in court papers, claimed the bus should pick up their 9- and 12-year-old at the end of their driveway in Franklin Township in Hunterdon County like it had.

    Mycentraljersey reports a new driver assigned to the route refused to drive down the road because the bus exceeded a bridge’s weight limit and the school district prohibited drivers from using a private driveway to make a K-turn.

    The parents said the road the children would have to walk on was narrow.

  16. grim says:

    Some chatter in the comments over there about this not being the first lawsuit from these parents.

    Surprising they don’t send out a dedicated bus for these two kids. Even better, rebuild the bridge and widen the roads.

    It’s for the children.

  17. 3b says:

    Is the interest deduction for home equity loans being eliminated in the new tax reform?

  18. JJ fanboy says:

    Grim,

    They should get the kids classified. This way the district can send the little yellow bus to pick them up. Problem solved

  19. grim says:

    It’s an irrelevant change if it is being eliminated. Lenders will just create streamlined primary mortgage refinance loans to replace them. Arguable that if they can get this model right, it’s an easier product to sell than a heloc/helo (to the consumer and to the market on the backside).

  20. grim says:

    This is also why the second home restriction for MID writeoff will not have quite the same impact as expected. Wealthy homeowners can just mortgage their primary residence and use the cash to purchase the second home outright. Jersey shore though, going to sting a bit.

  21. 3b says:

    Grim so take the original mortgage and combine it with what would have been the home equity loan and make it one new mortgage with the clock reset? Works for the banks not so much for the homeowner.

  22. D-FENS says:

    Every kid in my town has to walk to school or be driven by their parents. There are no buses.

  23. D-FENS says:

    http://www.njspotlight.com/stories/17/11/21/play-or-pay-feds-threaten-to-cut-law-enforcement-grants-to-sanctuary-cities/

    The U.S. DOJ has sent letters to Newark and Middlesex County — along with cities nationwide — warning that not working with immigration authorities could mean loss of funding

    ICE badge
    In what could be the first skirmish in the fed’s fight with local governments in New Jersey over the issue of immigrant “sanctuaries,” justice officials have informed two New Jersey localities and more than two dozen others across the nation that federal law enforcement grants hinge on their agreeing to work with immigration enforcement authorities.

    The U.S. Department of Justice sent letters to Newark and Middlesex County, as well as other locations throughout the country last Wednesday, the same day a U.S. District Court judge ruled the DOJ cannot withhold federal funds from Philadelphia due to its sanctuary status.

    The DOJ’s notices were dated a day after Rep. Bill Pascrell, D-9th co-authored a letter that suggests U.S. Attorney General Jeff Sessions is holding up the release of funds to all jurisdictions because of his concerns about alleged noncompliance by some. These jurisdictions, according to the DOJ, may be cooperating with immigration enforcement demands. Pascrell and Rep. Dave Reichert, a Washington Republican with whom Pascrell co-chairs of the House Law Enforcement Caucus, urged Sessions to promptly give localities all the funds they are due under the Byrne JAG program.

    -snip-

  24. Grim says:

    There are lenders writing primary mortgages in 5 year increments today.

    10y, 15y, 20y, 25y, 30y

  25. Libturd, AKA Dr. Howie Feltersnatch says:

    “10y, 15y, 20y, 25y, 30y”

    Absolutely.

    We refinanced our multi from a 30 to a 20 to 15 as rates dropped. Was the biggest money saving move ever, especially when mortgage interest was still deductible.

  26. Libturd, AKA Dr. Howie Feltersnatch says:

    D-Fenz – We have no buses in Glen Ridge. The “D” takes the short bus since he’s disabled.

  27. 3b says:

    Grim if you were half way through a mortgage and then took the home equity loan you might need to go back to a 30 year mortgage to afford the monthly payment.

  28. Libturd, AKA Dr. Howie Feltersnatch says:

    As to the sanctuary city BS. It’s nothing more than another divisive protest. No one gave two sh1ts about it before Trump was elected. Dems keep taking the bait. What’s new?

  29. Grim says:

    How is it materially different from paying both a primary and secondary?

  30. 3b says:

    Grim you might end up extending the term of the mortgage to afford the monthly payment.

  31. Grim says:

    Oh, the lenders are banking on that.

  32. Grim says:

    That’s why I think the lenders will pivot to move to a more variable cash out refi model.

  33. Libturd, AKA Dr. Howie Feltersnatch says:

    “Grim you might end up extending the term of the mortgage to afford the monthly payment.”

    Yup, like the 60 and 72 month car loans that seem to be the norm today. I almost fell for one since it was 0% interest, but then I realized I’d have to pay collision and comprehensive for way longer than one should as it’s required by the bank until the loan is paid off.

  34. 3b says:

    Grim / and the people will go for it. I know so many people late 40s to late 50s with big mortgages and or home equity loans. And some still doing big additions with older kids. Instead of paying down they are going the other way.

  35. Libturd, AKA Dr. Howie Feltersnatch says:

    3B,

    Sadly, massive debt is the name of the game. I’ve been told of a lot of rich Glen Ridge families that live in huge houses and drive fancy cars, are really net negative. Heck, when I talk with most of my friends, they do not have enough to pay for their kids colleges outright, let alone, the first year. Most carry huge credit card debt too. Some times, I feel like I’m the only one around frugal enough to not have debt besides my mortgage. And that will be gone in another 8 years. And we don’t make nearly as much as everyone else. We are contemplating turning our third floor into a master bedroom, fancy bath, walk-in closet, etc. Our justification is that our house only has 1 and 1/2 baths and though we wouldn’t get it all back when we sold, having two and one half baths plus the fancy master should get us most of it back if we do it frugally enough. But I’m waiting to see how this tax deform comes out, if at all, before deciding how best to pay for it. Gonna try to keep it under 80K since we figure it should increase our eventual sell price by about 50K conservatively. Wish I didn’t reshingle the roof ahead of this, but it was beginning to leak. Still had the original cedar shingles from when the house was built under what must have been eight layers of asphalt shingles. Finally, Gator’s brother is going to move in with us, so he’ll rent out our room.

  36. Comrade Nom Deplorable, surfacing for air says:

    ” Daddy Deported says:
    November 21, 2017 at 8:13 am

    Also John Conyers, another member of the Party of Gropers ”

    When I worked in DC nearly 20 years ago, a smoking hot friend told me she had interned in Cong. Al Wynn’s office and he came on to her in a major way. I think she may have said he got handsy with her but it was so long ago, I cannot recall details.

    He, married, kids, etc.; she, a college student.

    She also said that he had a reputation for that sort of behavior.

  37. abeiz says:

    Massive debt would keep me up at night, but going without does make it seem like you are outside looking in, which tends to isolate a person.

    There is a negative attitude towards those wanting to leave (couldn’t hack it, etc.) but competing for everything with people who will procure at any price (just swipe) is maddening.

    I don’t dislike NJ, I dislike its culture which you encapsulated so well.

  38. 3b says:

    Lib I hear you Sir! We have one small mortgage that’s it. Kids college paid for no loans for them or us. All done. We have an old Highlander runs beautifully. All the bells and whistles at the time. Offered to get a new one for my wife she didn’t want it. Sits in a parking lot all day no point she said. We travel and enjoy ourselves. If you guys want to treat yourselves go for it with the master bath. You both work hard and after all you have been through you certainly deserve a little luxury.

  39. Libturd, AKA Dr. Howie Feltersnatch says:

    Will do it soon enough. Tax changes, though, are causing the delay.

  40. 3b says:

    Lib understand on the tax changes. Still amazed it’s not the topic of conversation. Unless people assume it will never happen.

  41. Grab them by the puzzy says:

    @tonyschwartz

    Ironically,
    Trump’s horrific and still unpunished behavior with women probably hastened the torrent of women speaking up over the past two months about other sexual predators.

    Trump must be subject to the same consequences as anyone other sexual predator.

  42. Fast Eddie says:

    Ironically,
    Trump’s horrific and still unpunished behavior with women probably hastened the torrent of women speaking up over the past two months about other sexual predators.

    LMAO. Sure, you keep believing that as you hold onto that handle of yours. Who’s grabbing who by the puzzy?

  43. Daddy Deported says:

    Charlie Rose now fires by CBS. He provided clues often that his values didn’t include human beings. Who remembers when he smashed his face trying to make a heroic save at a New York intersection…of his brand new MacBook Air? Democrats are such douchebags.

    https://techcrunch.com/2008/03/17/charlie-rose-face-plants-to-save-his-macbook-air/

  44. Fast Eddie says:

    Democrats; the ones touting some ethical high ground, preaching tolerance and acceptance. Go f.uck yourselves.

  45. Daddy Deported says:

    Puzzy, I corrected it for you:

    Trump’s Clinton’s horrific and still unpunished behavior with women probably hastened the torrent of women speaking up over the past two months about other sexual predators.

    Trump Clinton must be subject to the same consequences as anyone other sexual predator.

    You can even make a case that Clinton made it really “cool” for ugly guys with Progressive Democrat power to just shove their fists up any cunt that caught their eye.

  46. Daddy Deported says:

    News Alert: Brian Williams fired from MSNBC in another sex abuse scandal!

    It turns out he didn’t really abuse any women, he just lied repeatedly about which women he groped.

  47. Grim says:

    NJ is above the law

  48. leftwing says:

    Liberal blogosphere losing it over Rose. Lol.

  49. Blue Ribbon Teacher says:

    Sadly, massive debt is the name of the game. I’ve been told of a lot of rich Glen Ridge families that live in huge houses and drive fancy cars, are really net negative. Heck, when I talk with most of my friends, they do not have enough to pay for their kids colleges outright, let alone, the first year. Most carry huge credit card debt too. Some times, I feel like I’m the only one around frugal enough to not have debt besides my mortgage.

    At one point, my parents were pulling in $500k a year. It resulted in them supported several uncles, grandparents, cousins, and buying properties left and right. They ran up $2.5 million in mortgage debt and subsequently lost all properties.

  50. leftwing says:

    Under the radar…….

    Trump’s hold on JAG funds to sanctuary cities until they comply with existing Fed laws (ICE) is stopped by Fed court. Similar to the Hawaiian judge blocking new immigration standards.

    The point? Some people never learn….antics such as these are all well and fine when used against your opponent. But, the majority is never always the majority party and your new boundary is used against you.

    Trump is jamming through a whole new raft of federal judges – an extraordinary number – because the Dems suspended the ability to filibuster nominations when they were in power and Repubs held up nominations. That is now being used against against Dems as they sit on the sidelines watching these guys get seated.

    When we next have a Dem president what executive actions will the Repubs run to federal Courts to block? Especially with all these newly minted rightward judges? Hurricane relief to a territory? Funding for favorite Lib programs?

    Not many Dems I respect generally, but one I do coined the term ‘defining deviancy down’. While used in an entirely different context the situation is the same. The political parties continue to do push the boundaries – as minority or majority – setting the table for the other side to come in and up the ante when the roles are reversed.

    Dysfunctional.

  51. abeiz says:

    BRT,
    Sounds like a wild ride! Add in some coke and you have a great 80’s flick.

  52. 3b says:

    Grab give it a rest . This has nothing to do with Trump. The side you identify with is getting the heat now while all the time portraying this type of behavior is a Republican thing and you guys are desperate to grab onto something.

  53. Daddy Deported says:

    Do I recall correctly that in the 80’s and 90’s the longest loans were 36 months? I’ve had two car loans, each was for a 12 month term, and they were spaced 15 years apart.

    Yup, like the 60 and 72 month car loans that seem to be the norm today

  54. D-FENS says:

    Checks and balances doing their thing…

    leftwing says:
    November 21, 2017 at 2:32 pm
    Under the radar…….

  55. Daddy Deported says:

    My first loan was in 1984 and I put $5K down on a $7700 new car (before tax, etc.), so my loan had to be no more than $3K, and I remember the payments like they were yesterday, $273.81 per month. That has to be somewhere near 9% interest.

  56. Daddy Deported says:

    I think I’m going to buy some Consumer Discretionary stocks before the close. WYN, WYNN, and GPS

  57. The Great Pumpkin says:

    So it’s not fake news?

    Fast Eddie says:
    November 21, 2017 at 1:09 pm
    Democrats; the ones touting some ethical high ground, preaching tolerance and acceptance. Go f.uck yourselves.

  58. The Great Pumpkin says:

    And I have to say it’s funny hearing the red team go nuts about this now after voting in a guy to president they heard on tape talk about sexually assaulting a woman.

    Our society has no morals or values anymore. Everyone is a bi!ch to their political team.

  59. Daddy Deported says:

    What woman was that? Does she have a name, or is it another secret like your three degrees? You are such a stupid cunt.

    And I have to say it’s funny hearing the red team go nuts about this now after voting in a guy to president they heard on tape talk about sexually assaulting a woman.

  60. Daddy Deported says:

    BTW Pumps, I talked to your Dad via Skype this afternoon. He wanted me to tell you that he wants to take a sh1t on your lip where your mustache should be.

  61. abeiz says:

    Grabbing a puzzy, talking about grabbing a puzzy and being caught talking about grabbing a puzzy are three very different things.

  62. The Great Pumpkin says:

    I don’t care if he was making it up and saying it to be “cool.” The fact that he is trying to impress someone with that talk is the problem. It means he is okay with it. With the amount of sexual assaults coming out now involving men in positions of power, it tells you how bad the problem really is. I have a daughter, and it’s not okay to just blow this off as locker room talk. This behavior has to end. I don’t want my daughter to be a victim one day. I prevent that from happening by making this talk unacceptable. It’s sad this guy is our president after this came out, says a lot about the morals and values in our country. Why did so many people who consider themselves Christians, still vote this man in after hearing what he said? Brings a tear to my eye to see our society is devolving backwards. Good old conservative mindeset of working hard and adhering to Christian(Puritan) values is dead. I hope to one day to see it return to its glory.

    “What woman was that? Does she have a name, or is it another secret like your three degrees? You are such a stupid cunt.

  63. The Great Pumpkin says:

    What I really meant is that I’m a reprehensible lowlife with nothing to offer. Sorry for wasting your time and space here.

    I don’t care if he was making it up and saying it to be “cool.” The fact that he is trying to impress someone with that talk is the problem. It means he is okay with it. With the amount of sexual assaults coming out now involving men in positions of power, it tells you how bad the problem really is. I have a daughter, and it’s not okay to just blow this off as locker room talk. This behavior has to end. I don’t want my daughter to be a victim one day. I prevent that from happening by making this talk unacceptable. It’s sad this guy is our president after this came out, says a lot about the morals and values in our country. Why did so many people who consider themselves Christians, still vote this man in after hearing what he said? Brings a tear to my eye to see our society is devolving backwards. Good old conservative mindeset of working hard and adhering to Christian(Puritan) values is dead. I hope to one day to see it return to its glory.

  64. JJ fanboy says:

    Is pumpkin frank?

  65. The Great Pumpkin says:

    No, he’s a garden variety liar.

  66. JJ fanboy says:

    3b and lib,

    You can’t impress your neighbors and fb friends through thrift.
    You need expensive cars, unnecessary home renovations, and pictures to post on social media of your 30k vacations and $300 meals. And as long as their relatives die in the right order, their retirement will be glorious.

  67. No One says:

    https://www.youtube.com/watch?v=vgk-lA12FBk
    What’s really impressive is spending big bucks while simultaneously saving/investing big bucks for the future.

  68. The Great Pumpkin says:

    “If Cohn were being more honest, he’d admit what most chief executives are saying privately, and some publicly. “The Trump team is arguing that massively cutting taxes for corporations will somehow translate into significant wage increases for working people,” David Mendels, the former C.E.O. of publicly traded software company Brightcove wrote last week. “This argument fundamentally disregards everything we know about how companies actually decide to hire and how much to pay their employees. As a C.E.O. (and in previous roles) I was involved in hiring and determining salaries for thousands of people over 25 years. From real-world experience I can tell you that tax rates literally never came up in any discussion about hiring or pay levels.” Occam’s razor, he added, is the best rubric to predict what will happen when you give investors more money in the absence of increased demand: they’ll keep it.

    Howard Schultz, the billionaire executive chairman of Starbucks, was more blunt: “This is not tax reform,” he said at the DealBook conference in New York last week. “This is a tax cut. It’s fool’s gold that he wants to take the corporate tax rate from 35 percent to 20 percent. For what purpose? Is that profit going to go back to the people who need it the most? Is that going to help half the country that doesn’t have $400 in their bank account for a crisis? No.”“

  69. exJersey says:

    1:09 recent study suggests that blue state folks are actually way better at family values than the Red States. Things like marriages that work, kids that don’t get preggers in High School, etc.

  70. 3b says:

    Ex I don’t question that. Just the belief that Democrats are morally superior to Republicans when it comes to sexual harassment.

  71. 3b says:

    Jj fan so true. Fine for those who really have the resources. The rest are just posers.

  72. Fabius Maximus says:

    “Democrats; the ones touting some ethical high ground, preaching tolerance and acceptance. Go f.uck yourselves.”

    Explain to me how those GOP family values work again?
    https://www.yahoo.com/news/anti-lgbt-politician-resigns-being-151206526.html
    Christian. American. Conservative. Republican. Husband

  73. 3b says:

    Fab that’s the point they are all hypocrites. You just need to accept that. Take a deep breath and admit it you will instantly feel relief.

  74. Fabius Maximus says:

    The 50yr mortgage will show up shortly. Just like the 4box at the dealership anything to make the sale.

  75. Fabius Maximus says:

    3b

    Yes, its not a partisan issue. But from reading the comments in here you wouldn’t think it. Donnie still gets a pass. I will say one thing on Franken. He did apologize to her after the fact while the event was not public knowledge. It does not excuse the action, but shows a level of contriteness, that we have not seen in the others. There is nothing worse than someone apologizing for the only reason that they were caught.

    From my side, I don’t care what Wes does behind closed doors. For the most part it is none of my business. But it does become a big issue if he is campaigning on Family Values.

  76. The Original NJ ExPat says:

    LOL. Republicans, if they have anything to hide, are closet gays, perhaps predators. Democrats are closet heterosexual predators or openly/almost openly gay. White House AND Pentagon spokesman Pete Williams was practically openly gay, even as he finished up his career as a network talking head. Democrats use career ambitions to shut the abused up. Republicans fall back to age old shame to shut their abused up.

    Ex I don’t question that. Just the belief that Democrats are morally superior to Republicans when it comes to sexual harassment.

  77. The Great Pumpkin says:

    What I meatn to say is that I am a HS dropout, by Dad is a deported criminal, and my wife doesn’t even admit on Facebook that she is married to me.

    “If Cohn were being more honest, he’d admit what most chief executives are saying privately, and some publicly. “The Trump team is arguing that massively cutting taxes for corporations will somehow translate into significant wage increases for working people,” David Mendels, the former C.E.O. of publicly traded software company Brightcove wrote last week. “This argument fundamentally disregards everything we know about how companies actually decide to hire and how much to pay their employees. As a C.E.O. (and in previous roles) I was involved in hiring and determining salaries for thousands of people over 25 years. From real-world experience I can tell you that tax rates literally never came up in any discussion about hiring or pay levels.” Occam’s razor, he added, is the best rubric to predict what will happen when you give investors more money in the absence of increased demand: they’ll keep it.

    Howard Schultz, the billionaire executive chairman of Starbucks, was more blunt: “This is not tax reform,” he said at the DealBook conference in New York last week. “This is a tax cut. It’s fool’s gold that he wants to take the corporate tax rate from 35 percent to 20 percent. For what purpose? Is that profit going to go back to the people who need it the most? Is that going to help half the country that doesn’t have $400 in their bank account for a crisis? No.”“

  78. Guomino says:

    The first thing Murphy does is to announce a minimum wage tax hike on all the small businesses in NJ and to ensure that there’s an even bigger gap between rich and poor in the state.

    Small businesses are struggling in towns “with money” let alone all the businesses struggling to survive in those without.

    It is pretty clear that there is no bigger moron than the NJ voter! You all deserve what you get.

  79. The Great Pumpkin says:

    Will there even be any Democrat scumbags left to “host” CNN and MSNBC shows after all the shoes drop?

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